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EU Worries Send Gold, Silver Higher

NEW YORK—Gold and silver prices climbed for a second day, supported by traders looking to cover bets on lower prices, bargain-hunters and investors concerned about European sovereign debt.

Precious metals continued to recover from last week's correction, which saw silver futures log a 27% drop, as several rounds of trading margin increases forced under-capitalized investors out of the silver market. Silver's declines sent a wave of selling through the commodities complex, pushing everything from gold and crude oil to cotton...